Acadian Asset Management LLC Purchases 549,508 Shares of Zevia PBC $ZVIA

Key Points

• Acadian Asset Management LLC significantly increased its stake in Zevia PBC by 950.8%, acquiring 549,508 additional shares, bringing its total ownership to 607,303 shares valued at approximately $1.31 million.
• Analysts have raised their price targets for Zevia PBC, with Telsey Advisory Group and BMO Capital Markets setting targets at $6.00, while Morgan Stanley's target is $2.70, indicating a favorable outlook for the stock.
• Zevia PBC's stock recently traded at $2.38, down 0.8%, with the company reporting a revenue of $44.52 million for the last quarter, surpassing analyst expectations of $41.63 million.

Acadian Asset Management LLC boosted its holdings in Zevia PBC (NYSE:ZVIA - Free Report) by 950.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 607,303 shares of the company's stock after acquiring an additional 549,508 shares during the quarter. Acadian Asset Management LLC owned about 0.83% of Zevia PBC worth $1,309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZVIA. Outlook Wealth Advisors LLC bought a new stake in Zevia PBC in the first quarter worth about $29,000. Wolverine Trading LLC bought a new stake in Zevia PBC in the fourth quarter worth about $39,000. First Manhattan CO. LLC. bought a new stake in Zevia PBC in the first quarter worth about $48,000. Bank of America Corp DE raised its position in Zevia PBC by 2,845.4% in the fourth quarter. Bank of America Corp DE now owns 15,817 shares of the company's stock worth $66,000 after acquiring an additional 15,280 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in Zevia PBC in the first quarter worth about $67,000. 53.21% of the stock is currently owned by institutional investors.

Zevia PBC Trading Up 0.4%

NYSE:ZVIA traded up $0.01 on Friday, hitting $2.39. 1,327,094 shares of the company's stock traded hands, compared to its average volume of 590,399. Zevia PBC has a 1 year low of $0.96 and a 1 year high of $4.99. The firm has a 50-day moving average price of $2.91 and a 200-day moving average price of $2.69. The company has a market cap of $179.13 million, a PE ratio of -10.86 and a beta of 0.89.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. Zevia PBC had a negative return on equity of 27.86% and a negative net margin of 8.97%.The company had revenue of $44.52 million for the quarter, compared to analysts' expectations of $41.63 million. On average, research analysts forecast that Zevia PBC will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Zevia PBC from $2.50 to $2.70 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. BMO Capital Markets lifted their price target on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Telsey Advisory Group lifted their price target on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.61.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.